Nektar Network begins Epoch 1 of Nektar Drops – Rewards for ongoing participation

Summary:
• Participants in Epoch 1 will have the opportunity to earn Nektar Drops by engaging with several pre-launch initiatives.

The Nektar Network is excited to announce the commencement of Epoch 1 for Nektar Drops, beginning today, May 1, 2024. This new phase is dedicated to acknowledging and recording the contributions of our community members through daily Nektar Drops, which can be earned by participating in predefined activities within the Nektar ecosystem. This epoch will conclude on June 1, 2024, or when the network reaches a total value locked (TVL) of 250,000 ETH.

Participants in Epoch 1 will have the opportunity to earn Nektar Drops by engaging with several pre-launch initiatives such as Enzyme vaults, Reserve bsdETH initiatives, and Sommelier vaults.

Specifically, for each ETH deposited in these initiatives on Ethereum mainnet, members will receive 25 Nektar Drops per day. A slightly different reward structure is set for deposits on Base, where the reward will be 20 Nektar Drops per ETH per day.

Nektar Drops per day for ETH deposited:

• 25 pts/ETH deposited on Enzyme
• 25 pts/ETH deposited on Sommelier
• 20 pts/ETH deposited on Reserve
• 20 pts/ETH deposited on Beefy and Aerodrome
• 20 pts/ETH deposited on Extra Fi

The allocation of retroactive Nektar Drops has also been revised, significantly increasing the number of drops distributed to Goerli and Holesky testnet operators by over 50x. Additionally, a 10x increase has been implemented across all other participant categories to better acknowledge their activities and contributions.

Referral rewards will be introduced later during Epoch 1. This addition is pending final technical enhancements made in partnership with the Fuul team, aiming for a seamless integration into our existing reward structure.

The launch of Epoch 1 marks a significant milestone in Nektar Network’s commitment to community engagement. More information on Nektar Drops and the upcoming stages in the Pollination Campaign coming soon.

About Nektar Network

Nektar Network is a multilayered restaking network built on top of Ethereum. It consists of components that together form a comprehensive incentives system designed to democratize access to Ethereum’s trust model. For more information about Nektar Network, users can visit our website or follow on Farcaster and X.

Nektar Network is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Engaging with smart contracts can pose a security risk.